Arc & Co. has secured a £5.8m investment facility to support a repeat borrower in refinancing their existing debt.
The asset was a serviced office located in Devon, set in 70 acres of land and comprising 14 buildings and 150,000 square feet of income producing space.
The client needed to refinance their existing facility and move from a variable to a fixed rate to improve cashflow.
Cameron Hayes, director at Arc & Co., partnered with a private bank to obtain 55% loan-to-value (LTV) and fixed pricing of 6.65% for the full 5-year term.
Hayes said: “Funding for regional serviced offices is not typically forthcoming, so it was a pleasure to work closely with a funder who not only displays an appetite for this asset class, but pricing that is very attractive.
“Arc & Co. is working hard in this part of the market, backed by lenders who understand and can get behind these deals.
“We see these sorts of transactions growing over the coming months as investors look to refinance, reposition, and undertake brown-to-green strategies.”
